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Philippine Airlines files for bankruptcy protection in US

The creditors have agreed to ‘forgive’ a $ 2 billion (100 billion Philippine francs) debt to the only airline in the Philippines having an IOSA certificate. PAL's chief financial officer, Nilo Thaddeus Rodriguez, said the company ... ... management, is due to the fact that a significant part of the company's creditors are US residents and the use of the appropriate bankruptcy procedures will be more convenient. The restructuring plan assumes that expenses will be reduced by $ 2 billion, and ...

Modified: 09.07.2021
Philippine Airlines , bankruptcy , company bankruptcy , USA , airline , tourism , coronacrisis
Path: РусБанкрот - СМИ
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